Fannie Fires 100+ For Fraud

[SillyMe]

Fannie Mae Fires Over 100 Employees for Unethical Conduct, Including the Facilitation of Fraud | FHFA

The U.S. Federal Housing Finance Agency (U.S. Federal Housing FHFA) and Fannie Mae issued the following statement: “In President Trump’s housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry,”...

www.fhfa.gov

Here is the story on the fraud: https://techstory.in/fannie-mae-lay...workers-accused-of-misusing-grants-programme/

 

[Sadie]

Here is the story on the fraud: https://techstory.in/fannie-mae-lay...workers-accused-of-misusing-grants-programme/

The 700 layoffs are not the official count. Some of the 700, probably 200 (according to housing wire) did not work for Fannie, but for a partner company.

Officially, there have been only 100. But who knows what is true/false in this opaque administration.

 

[ucbruin]

It's a blessing that AMCs saves DOGE from having to cull the appraiser herd....
Just kidding....

 

[djd09]

While much of the news this past week has centered around President Trump's tariffs and the effects on the stock market, there has been other significant activity in Washington, D.C., as FHFA Director William Pulte continues to make big changes at Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency announced April 8 that it had fired more than 100 Fannie Mae employees for "unethical conduct," including facilitating fraud, since Pulte took the helm in March.

"In President Trump's housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry," said Pulte, who appointed himself as chairman of the boards of directors of Fannie Mae and Freddie Mac soon after stepping into the leadership role at at the FHFA.

The news release did not provide details about the nature of the alleged fraud. The FHFA declined to comment further when contacted via email by Real Estate News.

Eliminating 'waste' at Fannie and Freddie: The news of the firings follows a series of posts Pulte made on X highlighting other cuts at the agencies he oversees. Pulte said Fannie Mae has already saved $6.4 million by eliminating programs related to climate change and diversity.

"Consulting contracts that waste money and other DEI nonsense is being stripped away," Pulte wrote on April 7, noting that "Freddie Mac spent $9 million on DEI last year — we are eradicating it and returning the $9 million to better uses that actually make homes more affordable."

Fannie Mae shakeups continue with ‘unethical conduct’ firings

Over 100 employees have been fired since FHFA Director William Pulte began his tenure, the agency announced, while Pulte took to X to highlight other cuts.

www.realestatenews.com

bust them up...

 

[djd09]

A Reminder of the Corruption That Helped Birth the Biggest Bailout in History​

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Washington, July 18, 2013
Tags: Full Committee

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“Fannie Mae will never impose a cost on the American taxpayer…” – James A. Johnson, Chief Executive Officer of Fannie Mae, testifying before the House of Representatives, April 17, 1996
“Under the direction of James A. Johnson, Fannie Mae’s calculating and politically connected chief executive, the company capitalized on its government ties, building itself into the largest and most powerful financial institution in the world. In 2008, however, the colossus would fail, requiring hundreds of billions in taxpayer backing to keep it afloat. Fannie Mae became the quintessential example of a company whose risk taking allowed its executives to amass great wealth. But when those gambles went awry, the taxpayers had to foot the bill.” – Reckless Endangerment, published in 2011​

Few issues have united Americans quite like the outrage at taxpayer-funded bailouts – and rightfully so.
Hardworking taxpayers should never forget: The nearly $200 billion bailout of Fannie Mae and Freddie Mac is the biggest, costliest taxpayer-funded bailout in history.

A Reminder of the Corruption That Helped Birth the Biggest Bailout in History

financialservices.house.gov

fannie has a track record...and it's not good

​

 

[djd09]

Mission and Values

Waivers. Waivers of this Code will be granted only in exceptional circumstances. Only the Board of Directors or a designated committee of the Board may grant a waiver of any standard in this Code, and such waivers of our Code must be disclosed promptly.

https://www.fanniemae.com/media/28596/display

they have an ethics code...with an exception clause...and i cant stop laughing

 

[Carnivore]

Just watched this on TV .... So it involved fannie & freddie So I don't know how accurate it was. Apparently some employee's were working from other countries . I guess they were touring the world.

Good Grief!

 

[glenn walker]

Just watched this on TV .... So it involved fannie & freddie So I don't know how accurate it was. Apparently some employee's were working from other countries . I guess they were touring the world.

Good Grief!

Virtual worker's...lol

 

[Dublin ohio]

Virtual worker's...lol

That's where they hide the reviewers

 

[glenn walker]

The deeper we dig the bigger the mess is exposed. Most American's new years ago these agency's had been taken over by the inmates but they got to big to fail and by 2005 if they crashed the whole mortgage world and banks went down with them.

Now it's like how do you unwind 60 years of entrenched bureaucracy that loves how it operates.